Sales retraction supports wheat prices

Producers who still hold stocks of better quality wheat remain withdrawn, waiting for the product to increase in value before returning to the market.

26.02.2019 | 20:59 (UTC -3)
CEPEA

Unlike what was recorded in the external wheat market in recent days, the strong sales retraction has supported values ​​in Brazil, according to Cepea researchers. Producers who still hold stocks of better quality wheat remain withdrawn, waiting for the product to increase in value before returning to the market. Furthermore, many farmers are focused on field work for the summer soybean and corn harvest, a scenario that keeps internal liquidity low. On the buying side, agents indicate that they have comfortable stocks for at least two months. Other demanders make one-off acquisitions, just to meet short-term demand.  www.cepea.esalq.usp.br

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